A man sells two articles at Rs 9,180 each. He gains 8% on one article and loses 15% on the other. His overall profit or loss is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. Loss Rs 940.
A man sells two articles at Rs. 9,180 each.
He gains 8% on one article and loses 15% on the other.
Selling Price = Cost Price - Cost Price × Loss%
Selling Price = Cost Price + Cost Price × Gain%
Loss = Cost Price - Selling Price
Let the cost price of the first and second articles be P and Q.
According to the question -
P + P × 8% = 9180
P + 0.08P = 9180
1.08P = 9180
P = 9180/1.08
P = 8500
According to the question -
Q - Q × 15% = 9180
Q - 0.15Q = 9180
0.85Q = 9180
Q = 9180/0.85
Q = 10800
Total cost price = 10800 + 8500 = Rs. 19300
Total selling price = 9180 × 2 = Rs. 18360
Now, the overall loss = 19300 - 18360 = Rs. 940